Has XRP Finally Bottomed? What Chart Data Says About a Potential Reversal

Analysts and traders continue to assess whether the recent XRP price crash finally marked the token’s bottom, anticipating a reversal.

XRP recently recorded its biggest decline of the year as the broader crypto market came under new selling pressure. On June 6, the token dropped to a new yearly low of $1.05 before recovering slightly. At the time of analysis, XRP was trading around $1.11.

The massive decline has led to renewed discussions among market observers about whether XRP had finally reached its bottom in the months-long correction.

Key Levels That Could Decide XRP’s Next Move

In a recent analysis, market commentator Casi noted that XRP had found support at the major 0.786 macro retracement level around $1.09 before bouncing higher. After the rebound, the token moved up to a local 0.382 retracement level, which she identified as point A. This sits around $1.17.

Casi believes XRP is now finishing what appears to be a Wave B correction. She noted that the target for this B wave sits at the 0.5 retracement level near $1.12, a level that XRP has managed to hold so far.

She noted that if the current rebound develops into a standard ABC corrective pattern, XRP should remain above the $1.12 area and gradually move toward the next resistance level at $1.25.

According to her, the $1.25 zone is especially important because it marks the upper range of where the current Wave 4 relief rally could extend while still allowing for a final Wave 5 decline. In this scenario, XRP could eventually fall toward the $0.90 support area before completing the larger correction.

Bullish and Bearish Outcomes for XRP

Casi said the market’s behavior over the coming days could provide clearer direction. In her bullish scenario, XRP continues holding above $1.12, breaks through nearby resistance levels, and gains enough momentum to push higher.

According to her, a move above $1.30 is a major sign of strength. She noted that a rally toward $1.65 would significantly reduce the likelihood of another drop to the $0.90 region, making a final Wave 5 decline far less necessary.

However, the analyst also shared a bearish possibility. In this case, XRP would rise toward the $1.25 resistance area but fail to break above it. If sellers step in at that level, the token could reverse course and fall below the 0.786 support level at $1.09.

Should that happen, Casi believes XRP could continue lower toward the $0.90 zone, completing what she described as the broader macro Wave 2 correction.

For now, she advises traders to watch how XRP reacts around the $1.12 support level and the $1.25 resistance level over the next one to two days. According to her, the price action around those areas should help determine whether the market has already formed a bottom or if one final downward move still lies ahead.

One More Low May Still Be Ahead

Meanwhile, Tara, another analyst, pointed out that XRP has already reached its target resistance level around $1.17. However, she noted that Bitcoin has yet to reach its own target.

According to Tara, Bitcoin’s next move could still influence XRP in the short term. She suggested that if Bitcoin climbs toward the $66,300 level, XRP could see additional upward movement and potentially reach the $1.20 resistance area.

Despite this possibility, Tara warned that traders should pay close attention to whether XRP can move above $1.17 during the current rebound. If the token fails to set a new high above that level, the projected Wave 5 target could remain in play.

In this scenario, Tara noted that the Wave 5 0.618 extension aligns closely with the broader 0.786 macro support level at $0.88. As a result, she believes XRP could still make one more move lower before the current correction fully ends, suggesting that the final bottom may not yet be in place.